Mining lubricant manufacturers are focusing on development of antioxidant, waterproof, rust-preventive, and non-toxic products to cater to the evolving mining trends in mining sector.
Exhibiting a stable CAGR during 2019 - 2029, global value of mining lubricants market is projected to reach US$ 3 Bn by 2029 end. While resurgence of mining industry is the prime driver for market growth, increasing investments in mining exploration activities will be another leg of growth for mining lubricants market over the forecast period.
"The mining lubricants market is growing on the back of rising demand for high-performance lubricants such as process oils, transmission oils, and drilling fluids, in mining projects. Manufacturers are inking partnerships with equipment manufacturers and service providers to create awareness on proper usage and benefits of mining lubricants. Moreover, they are offering customized solutions," says Future Market Insights.
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